LandBridge Co LLC
For the period ended Sep 30, 2025. Filed Nov 12, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 12, 2025
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4. Property, Plant and Equipment
Prop erty, Plant and Equipment
As of September 30, 2025 and December 31, 2024, property, plant and equipment, net of accumulated depreciation and depletion consisted of the following:
| September 30, | December 31, | |
|---|---|---|
| 2025 | 2024 | |
| Oil and natural gas properties | ||
| Proved | $36,177 | $36,068 |
| Unproved | 2,934 | 3,043 |
| Total oil and natural gas properties | 39,111 | 39,111 |
| Land and land improvements | 872,363 | 855,092 |
| Water wells, pipelines, facilities, ponds and related equipment | 21,496 | 21,109 |
| Buildings, vehicles, equipment, furniture and other | 5,187 | 5,162 |
| Construction in progress | 1,834 | 14 |
| 939,991 | 920,488 | |
| Less: accumulated depreciation and depletion | (22,016) | (17,746) |
| Total property, plant and equipment, net | $917,975 | $902,742 |
Depreciation expense and depletion expense for thethree and nine months ended September 30, 2025 and 2024 are shown in the following table:
| Three Months EndedSeptember 30, | Nine Months EndedSeptember 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Depreciation expense | $761 | $638 | $2,308 | $1,881 |
| Depletion expense | 683 | 816 | 2,002 | 2,649 |
| Total depreciation and depletion expense | $1,444 | $1,454 | $4,310 | $4,530 |
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